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Which locations are the best for quick property sales?
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
New research has revealed the locations of Britain where property takes the least time to sell.
According to the investigation by Home.co.uk, accommodation in Peterborough and Milton Keynes sells quciker than anywhere else in the country. The investigation studied the number of property sales over a 180-day period and found that in these two towns, it takes just 13 days to agree a sale.
Factors
One key factor in the short-time taken to sell a property in these regions is their easy access to London. Homebuyers and investors alike are increasingly looking outside of the capital to secure the best possible value.
Another region where the property market is thriving is Bristol. In Home.co.uk’s list of hotspots of fastest-selling areas outside of Greater London, the city secured five out of the top-ten postcode areas.
A continued investment in student accommodation is also a factor in the Woodley area of Reading being highlighted as another prominent property location. Here, it takes just 15 days on average to sell a home.
In addition, suburban Glasgow is another hotspot. Clarkston and Giffnock, both offer access to the city centre and these two regions take up two places in the top ten in regards to time taken to sell a home outside of Greater London.
Which locations are the best for quick property sales?
Speedy
Greater London’s key property hotspots are also dominated by suburban region, with larger interest in commuter belt homes.
However, with ten areas outside of Greater London have a median time to sell of 15 days or less, only two areas of the capital can boast a similar turnaround. These regions are namely Uxbridge and Sidcup.
‘Our figures show that the really hot areas in the current property boom are now outside of the M25,’ notes Doug Shephard, director at Home.co.uk. ‘These top sellers’ markets are typically well-to-do districts where already, premium prices are going through the roof, as buyers compete for the very limited supply of properties for sale.’[1]
[1] http://www.propertyreporter.co.uk/property/which-location-takes-just-13-days-to-sell-a-property.html
